Turnover at UTV was flat at £57.2 million (€77.8 million) in the six months to the end of June in what the company described as a challenging period in the media industry.
Group operating profit, including associates, before exceptional items of £307,000 in its TV operations, was up 4 per cent at £13 million.
A very strong first-half performance in its radio operations in Britain more than offset second-quarter underperformance in radio in Ireland, delivering a 7 per cent improvement in total radio operating profitability, the company said.
"Our Irish radio stations got off to a good start in 2007 but short- term weakness in local advertising revenue in Q2 undermined this promise," the company said.
"The economic fundamentals remained positive, as evidenced by the 9 per cent increase in our national advertising revenue, but an 11 per cent decrease in local advertising revenue resulted in an overall increase of 1.5 per cent in local currency, giving a flat revenue performance in the first half due to currency fluctuation."
The company blamed the fall in local advertising revenue on changes in sales teams at a number of local radio stations.
"It's a blip. We don't think it is anything to do with economic conditions," said group finance director Paul O'Brien.
After accounting for start-up losses of £0.4 million at its Belfast station U105, Irish radio operating profits were down at £2.2 million from £2.4 million in 2006.
Radio operating profit in Britain rose by 16 per cent to £4.7 million, after accounting for start-up losses of £0.9 million at its Edinburgh station Talk 107.
Overall radio operating profit was up by 7 per cent to £6.8 million.
"Radio is becoming increasingly important to the group, and now contributes 55 per cent of group revenues," said group chief executive John McCann.
Television maintained profitability in what the company said was a difficult advertising market.Total television revenues were down marginally at £20.6 million but tight cost control ensured television operating profits were maintained at £5.6 million, UTV said.
UTV's new media division recorded a 12 per cent increase in revenue to £5 million, which resulted in a 25 per cent improvement in operating profit to £0.6 million.
